CIMB to arrange CityDev’s Islamic bond issue
Malaysian lender CIMB has been picked to arrange an Islamic bond sale by Singapore property developer City Developments, the bank said on Wednesday. CityDev, Southeast Asia’s second-biggest property developer by market value, had said it would sell S$1 billion of sharia-compliant debt, in what would be Singapore’s first Islamic unsecured financing arrangement aimed at tapping … Read more
En bloc battes: Fix bank-or-CPF charge problem
THE Strata Titles Board’s (STB’s) recent decision to throw out the sale of Tampines Court has put an end to a three-year en bloc saga. But the issues raised during the objectors’ hearings will no doubt resurface again in future en bloc sales. They deserve a closer look. Essentially, STB killed the application because it … Read more
Few bids for Mohd Sultan site?
RESPONSE is likely to be tepid for a tender for a transitional office site in Mohamed Sultan Road, given the large supply of space coming onstream in 2010. The 0.62 ha site has a maximum gross floor area of 9,265 sq m and is being sold on a short-term lease of 15 years with a … Read more
Marina Bay Suites may be delayed
Maintaining target price of $3000 psf, project may only launch in 2012 IF THE market for luxury homes fails to pick up, the launch of Marina Bay Suites may be held off until 2012 when the project is completed, Mr Wilson Kwong, the general manager of Raffles Quay Asset Management said in an interview with … Read more
US mortgage applications at lowest since 2000: MBA
Applications for US home mortgages last week fell to their slowest pace since December 2000, hurt by refinancing loan requests that are now just a quarter of March levels, an industry group reported on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity declined 1.5 per cent to 419.3 in … Read more
Hoi Hup-led group top bidder for DBSS site in Toa Payoh
Its bid of about $198.82m works out to about $160 per sq ft per plot ratio A CONSORTIUM led by Hoi Hup Realty has emerged as the top bidder for a Housing & Development Board Design, Build and Sell Scheme (DBSS) site at Lorong 1A Toa Payoh. Its bid of about $198.82 million works out … Read more
More land, buildings for foreign schools
4 state buildings, 3 land parcels tagged; government inviting FSS proposals THE government wants more foreign schools in Singapore to provide places for children of the growing number of expatriates moving here to work. Four more state buildings and three land parcels have been identified for use as Foreign System Schools (FSS). The buildings are … Read more
Transitional office sites seek niche as market cools
Analysts expect lukewarm response as fresh site is rolled out at Mohd Sultan Sentiment in the Singapore office investment market is worsening, but Urban Redevelopment Authority yesterday rolled out another 15-year leasehold transitional office site as scheduled, this time in the pubbing district of Mohamed Sultan Road. This is the seventh transitional office site URA … Read more
